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                     SECURITIES AND EXCHANGE COMMISSION
                           WASHINGTON, D.C. 20549

                                FORM 10-QSB

[X] QUARTERLY REPORT UNDER SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT
OF 1934

                For the Quarter Ended March 31, 2001


                      Commission File Number 0-24721



                         LEXON TECHNOLOGIES, INC.
           -----------------------------------------------------
          (Exact Name of Registrant, as Specified in its Charter)


              Delaware                                  87-0502701
-------------------------------           ----------------------------------
(State or other Jurisdiction of          (IRS Employer Identification Number)
 Incorporation or Organization)



             13237 Montfort Drive, #205, Dallas, Texas 75240
             -----------------------------------------------
                 (Address of Principle Executive Offices)


                             (972)386-6054
           --------------------------------------------------
          (Registrant's Telephone Number, Including Area Code)




Indicate, by check mark, whether the registrant (1) has filed all reports
required to be filed by Section 13 or 15(d) of the Securities Exchange Act of
1934 during the preceding 12 months (or for such shorter period that the
registrant was required to file such reports), and (2) has been subject to
such filing requirements for the past 90 days.

(1) Yes     No X     (2) Yes X   No
       ---    ---           ---    ---
THIS REPORT IS BEING FILED ON OR ABOUT MARCH 25, 2002, WHICH IS BEYOND THE
DATE ON WHICH THE REPORT WOULD HAVE BEEN TIMELY FILED.  AS A RESULT, READERS
ARE ENCOURAGED TO CONSULT THE COMPANY'S REPORTS FOR PERIODS SUBSEQUENT TO THE
PERIOD FOR WHICH THIS REPORT HAS BEEN FILED TO OBTAIN CURRENT INFORMATION
REGARDING THE COMPANY.
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Indicate the number of shares outstanding of each of the issuer's classes of
common stock, as of the latest practicable date.

Common Stock, $.001 par value                         16,486,831
-----------------------------                  ----------------------------
     Title of Class                            Number of Shares Outstanding
                                               as of March 22, 2002



                        PART I FINANCIAL INFORMATION

                        ITEM 1.  FINANCIAL STATEMENTS

                  LEXON TECHNOLOGIES, INC. AND SUBSIDIARY
                             FINANCIAL STATEMENTS
                                 (UNAUDITED)

     The accompanying financial statements have been prepared by the
Company, without audit, in accordance with the instructions to Form 10-QSB
pursuant to the rules and regulations of the Securities and Exchange
Commission and, therefore may not include all information and footnotes
necessary for a complete presentation of the financial position, results of
operations, cash flows, and stockholders' equity in conformity with generally
accepted accounting principles.  In the opinion of management, all adjustments
(which include only normal recurring accruals) necessary to present fairly the
financial position and results of operations for the periods presented have
been made.  These financial statements should be read in conjunction with the
accompanying notes, and with the historical financial information of the
Company.
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LEXON TECHNOLOGIES, INC. AND SUBSIDIARY
Consolidated Balance Sheets

ASSETS
                                                  March 31,      December 31,
                                                    2001            2000
                                                -----------      -----------
                                                (Unaudited)
CURRENT ASSETS
 Cash                                          $          -     $      6,873
 Accounts receivable                                  6,490           12,746
                                                -----------      -----------
   Total Current Assets                               6,490           19,619
                                                -----------      -----------
PROPERTY AND EQUIPMENT
 Leasehold improvements                               5,371            5,371
 Furniture and fixtures                              99,358           99,358
 Equipment                                           48,372           48,372
 Accumulated depreciation                          (116,543)        (111,431)
                                                -----------      -----------
   Total Property and Equipment                      36,558           41,670
                                                -----------      -----------
TOTAL ASSETS                                   $     43,048     $     61,289
                                                ===========      ===========


LIABILITIES AND STOCKHOLDERS' EQUITY (DEFICIT)

CURRENT LIABILITIES
 Accounts payable                              $    627,801     $    586,447
 Bank overdraft                                       1,072                -
 Accrued interest                                    99,425           84,505
 Accrued wages                                      252,340          159,106
 Accrued distributions                              209,774          209,774
 Other accrued expenses                               6,745           13,104
 Notes payable, related parties                   1,058,000        1,063,000
                                                -----------      -----------
   Total Current Liabilities                      2,255,157        2,115,936
                                                -----------      -----------
STOCKHOLDERS' EQUITY (DEFICIT)

 Common stock, par value $0.001 per share;
  authorized 100,000,000 shares; issued and
  outstanding 15,872,561 shares                      15,873           15,873
 Additional paid-in capital                         807,688          807,688
 Accumulated deficit                             (3,035,670)      (2,878,208)
                                                -----------      -----------
   Total Stockholders' Equity (Deficit)          (2,212,109)      (2,054,647)
                                                -----------      -----------
TOTAL LIABILITIES AND STOCKHOLDERS'
 EQUITY (DEFICIT)                              $     43,048     $     61,289
                                                ===========      ===========
The accompanying notes are an integral part of these consolidated financial
statements.

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LEXON TECHNOLOGIES, INC. AND SUBSIDIARY
Consolidated Statements of Operations
(Unaudited)
                                                          For the
                                                     Three Months Ended
                                                          March 31,
                                                    2001            2000
                                                -----------      -----------
NET SALES                                      $     84,617     $    161,468

COST OF SALES                                           217           24,800
                                                -----------      -----------
GROSS MARGIN                                         84,400          136,668
                                                -----------      -----------
EXPENSES
 Selling, general and administrative                221,830          558,515
 Depreciation and amortization                        5,112           46,604
                                                -----------      -----------
   Total Expenses                                   226,942          605,119
                                                -----------      -----------
(LOSS) BEFORE OTHER INCOME (EXPENSE)               (142,542)        (468,451)
                                                -----------      -----------
OTHER INCOME (EXPENSE)
 Interest income                                          -              299
 Interest expense                                   (14,920)         (40,704)
 Other income                                             -          150,000
                                                -----------      -----------
   Total Other Income (Expense)                     (14,920)         109,595
                                                -----------      -----------
(LOSS) BEFORE INCOME TAXES                         (157,462)        (358,856)
                                                -----------      -----------
INCOME TAXES                                              -                -

NET (LOSS)                                     $   (157,462)    $   (358,856)
                                                -----------      -----------
BASIC (LOSS) PER COMMON SHARE                  $      (0.01)    $      (0.03)
                                                -----------      -----------
WEIGHTED AVERAGE COMMON SHARES OUTSTANDING       15,872,561       13,122,005
                                                -----------      -----------



The accompanying notes are an integral part of these consolidated financial
statements.

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LEXON TECHNOLOGIES, INC. AND SUBSIDIARY
Consolidated Statements of Cash Flows
(Unaudited)
                                                          For the
                                                     Three Months Ended
                                                          March 31,
                                                    2001            2000
                                                -----------      -----------
CASH FLOWS FROM OPERATING ACTIVITIES
 Net (loss)                                    $   (157,462)    $   (358,856)
 Adjustments to reconcile net (loss) to net
  cash(used in) operating activities:
  Depreciation and amortization                       5,112           46,604
  Deferred charges                                        -           72,440
 Changes in operating assets and liabilities:
  (Increase) decrease in accounts receivable          6,256          (88,763)
  (Increase) decrease in prepaid expenses                 -           10,750
 Increase (decrease) in accounts payable and
  accrued expenses                                  143,149          157,496
                                                -----------      -----------
   Net Cash (Used in) Operating Activities           (2,945)        (160,329)
                                                -----------      -----------
CASH FLOWS FROM INVESTING ACTIVITIES
 Capital expenditures                                     -           (5,371)
 Payment of computer software costs                       -          (62,835)
                                                -----------      -----------
   Net Cash (Used in) Investing Activities                -          (68,206)
                                                -----------      -----------
CASH FLOWS FROM FINANCING ACTIVITIES
 Bank overdraft                                       1,072                -
 Advance from shareholder                                 -           75,000
 Principal payments under capital lease
  obligation                                              -           (5,002)
 Principal payments under notes payable              (5,000)        (150,000)
 Proceeds from issuance of common stock                   -          350,500
                                                -----------      -----------
   Net Cash Provided (Used by) Financing
    Activities                                       (3,928)         270,498
                                                -----------      -----------
NET INCREASE(DECREASE) IN CASH                       (6,873)          41,963

CASH AT BEGINNING OF YEAR                             6,873           20,892
                                                -----------      -----------
CASH AT END OF YEAR                            $          -     $     62,855
                                                ===========      ===========
SUPPLEMENTAL DISCLOSURES OF CASH FLOW
 INFORMATION
 Cash paid for:
  Interest                                     $          -     $     23,312
  Income Taxes                                 $          -     $          -

The accompanying notes are an integral part of these consolidated financial
statements.

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LEXON TECHNOLOGIES, INC. AND SUBSIDIARY
Notes to the Consolidated Financial Statements
March 31, 2001 and December 31,2000


NOTE 1 -BASIS OF FINANCIAL STATEMENT PRESENTATION

The accompanying unaudited condensed financial statements have been prepared
by the Company pursuant to the rules and regulations of the Securities and
Exchange Commission.  Certain information and footnote disclosures normally
included in financial statements prepared in accordance with generally
accepted accounting principles have been condensed or omitted in accordance
with such rules and regulations.  The information furnished in the interim
condensed financial statements include normal recurring adjustments and
reflects all adjustments, which, in the opinion of management, are necessary
for a fair presentation of such financial statements.  Although management
believes the disclosures and information presented are adequate to make the
information not misleading, it is suggested that these interim condensed
financial statements be read in conjunction with the Company's audited
financial statements and notes thereto included in its December 31, 2000
Annual Report on Form 10-KSB.  Operating results for the three months ended
March 31, 2001 are not necessarily indicative of the results that may be
expected for the year ending December 31, 2001.

NOTE 2 -GOING CONCERN

The Company's consolidated financial statements are prepared using generally
accepted accounting principles applicable to a going concern which
contemplates the realization of assets and liquidation of liabilities in the
normal course of business.  The Company has historically incurred significant
losses which have resulted in an accumulated deficit of $2,878,208 at December
31, 2000, a working capital deficit of approximately $2,100,000 and limited
internal financial resources.  These factors combined, raise substantial doubt
about the Company's ability to continue as a going concern.  The Company's
assets were entirely seized in August 2001 (a date subsequent to the periods
for which these financial statements have been presented).  Through some
additional funding in late 2001, the Company has been able to settle a large
majority of its outstanding debt.  The accompanying consolidated financial
statements do not include any adjustments relating to the recoverability and
classification of asset carrying amounts or the amount and classification of
liabilities that might result from the outcome of this uncertainty.


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ITEM 2. MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND
RESULTS OF OPERATIONS

Cautionary Statement Regarding Forward-looking Statements
---------------------------------------------------------
This report may contain "forward-looking" statements.  Examples of forward-
looking statements include, but are not limited to: (a) projections of
revenues, capital expenditures, growth, prospects, dividends, capital
structure and other financial matters; (b) statements of plans and objectives
of Lexon or its management or Board of Directors; (c) statements of future
economic performance; (d) statements of assumptions underlying other
statements and statements about Lexon and its business relating to the future;
and (e) any statements using the words "anticipate," "expect," "may,"
"project," "intend" or similar expressions.

THIS REPORT IS BEING FILED ON OR ABOUT MARCH 25, 2002, WHICH IS BEYOND THE
DATE ON WHICH THE REPORT WOULD HAVE BEEN TIMELY FILED AND MAY NOT CONTAIN
INFORMATION CONCERNING THE MORE RECENT ACTIVITIES OF THE COMPANY. THE
FOOTNOTES TO THE FINANCIAL STATEMENTS INCLUDED WITH THIS REPORT MAY CONTAIN
INFORMATION REGARDING THE COMPANY THAT OCCURRED SUBSEQUENT TO MARCH 31, 2001.
HOWEVER, THE READER SHOULD RELY ON INFORMATION CONTAINED IN REPORTS FOR MORE
RECENT PERIODS FILED SUBSEQUENT TO THIS REPORT.

General
-------
SUBSEQUENT TO THE END OF THE FISCAL PERIOD FOR WHICH THIS REPORT IS BEING
FILED, LEXON'S ASSETS WERE SEIZED DUE TO DEFAULT ON A LOAN AGREEMENT AND SOLD
AT PUBLIC AUCTION IN AUGUST 2001.  CURRENTLY, LEXON HAS NO BUSINESS
OPERATIONS.  RECENTLY, LEXON'S MANAGEMENT OBTAINED SOME BRIDGE FINANCING AND
IS SEEKING TO SETTLE OUTSTANDING DEBTS AND BECOME CURRENT IN ITS REPORTING
OBLIGATIONS UNDER SECTION 13 OR 15(D) OF THE SECURITIES EXCHANGE ACT OF 1934,
AS AMENDED.  MANAGEMENT IS ALSO EXPLORING POSSIBLE BUSINESS OPPORTUNITIES OR
COMBINATIONS ALTHOUGH NO DEFINITIVE TERMS OR AGREEMENTS HAVE BEEN ENTERED
INTO.

On March 1, 2001, LEXON and the U.S. Geological Survey mutually agreed to
terminate the Cooperative Research and Development Agreement. Although the
project succeeded in achieving its primary objectives of incorporating
National Atlas data supplied by USGS in the ENTELiS portal, additional funding
for further development never materialized and the project has been abandoned.

Results of Operations
---------------------
Three Months ended March 31, 2001 compared to March 31, 2000
------------------------------------------------------------------
Our net sales decreased for the three months ended March 31, 2001 to $84,617
from $161,468 for the three months ended March 31, 2000. The primary factor in
the general decrease of the year-to-date sales is Lexon's shift from the
retail market to what management expected to be the more profitable commercial
market and its focus on developing the National Atlas project, now abandoned.

Our gross margin decreased during the three months ended March 31, 2001 to
$84,400 from $136,668 for the same period in the prior year.  A decrease in
the cost of sales in the period ended March 31, 2001 compared to the prior
year period is due to the fact that the majority of the sales revenue in 2001
came from licensing which had no associated hard costs.

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Our selling, general and administrative expenses decreased to $221,830 for the
three months ended March 31, 2001 from $558,515 for the same period in 2000.
The decrease for the three months in fiscal 2001 is primarily  attributable to
the necessary reduction in Lexon's workforce because of lack of operating
funds.

Other expense for the three month ended March 31, 2001 was $14,920 consisting
of interest expense on loans and notes payable.  For the comparable period in
2000, significantly higher interest expense of $40,704, was offset by a
payment of $150,000 received in settlement of an outstanding lawsuit, for
other income of $109,595.

Our net loss decreased to $157,462 for the three months ended March 31, 2001,
with basic loss per share of $0.01, from $358,856 for the same period in 2000,
with  basic loss per share of $0.03.

Liquidity and Capital Resources
-------------------------------
At March 31, 2001, Lexon had a working capital deficit of $2,248,667 with a
bank overdraft of $1,072 and accounts receivable of $6,490.  For the three
months ended March 31, 2001 the primary source of liquidity was increases in
accounts payable  and accrued expenses, compared with fiscal 2000 when Lexon
received cash from the issuance of notes payable and the issuance of common
stock.  In addition, in the first quarter of fiscal 2000, Lexon received
$150,000 cash in settlement of a pending lawsuit.

The net cash used by operations was $2,945 for the three months ended March
31, 2001 compared to net cash used in operations of $160,329 for the same
period in 2000.  Operations in 2001 were greatly reduced due to lack of
resources.

Net cash used by investing activities was $0 for the three months ended March
31, 2001 compared to $68,206 used in the same period in the prior year,
consisting of payments for computer software and capital expenditures.  In
fiscal 2001, Lexon had no resources to expend on investing activities.

Net cash used in financing activities was $3,928 for the three months ended
March 31, 2001, due to principal payments of notes payable, offset by a bank
overdraft of $1,072.  For the same period in the prior year, net cash from
financing activities was $270,498 derived from a stockholder advance and the
sale of common stock, offset by payments under a capital lease and principal
payments on notes payable.

In 2001 and 2000, Lexon has incurred significant losses which have resulted in
an accumulated deficit of $2,878,208 at December 31, 2000, a working capital
deficit and limited internal financial resources.  Accordingly, the report of
the auditors includes a going concern qualification raising substantial doubt
about Lexon's ability to continue as a going concern.  At March 31, 2001,
management was hoping to be being able to renegotiate favorable payment terms
with some creditors and extend repayment terms with related parties on notes
payable.  However, Lexon's assets were entirely seized in August 2001, and its
operations ceased at that date.  Through recent bridge financing, Lexon has
been able to settle a substantial portion of its outstanding debt, and
management hopes to be able to find additional sources of funding and/or a
possible business opportunity or combination in order to recommence operations
during fiscal 2002, although no definitive terms or agreements for funding or
a business combination have been reached.  Lexon intends to include additional
information regarding management's efforts in subsequent reports.

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PART II - OTHER INFORMATION

ITEM 1.  LEGAL PROCEEDINGS

Lexon is not aware of any material pending or threatened litigation.

ITEM 2.  CHANGES IN THE RIGHTS OF THE COMPANY'S SECURITY HOLDERS
   None.

ITEM 3.  DEFAULT BY THE COMPANY ON ITS SENIOR SECURITIES
   None.

ITEM 4.  SUBMISSION OF MATTERS TO A VOTE OF SECURITIES HOLDERS
   None.

ITEM 5.  OTHER INFORMATION
   None

ITEM 6.  EXHIBITS AND REPORTS ON FORM 8-K
(a) Exhibits
    --------
    None.

(b) Reports on Form 8-K
    -------------------
    None.

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of  1934, the
registrant has duly caused this  report to be signed on its  behalf by the
undersigned, thereunto duly authorized.

LEXON TECHNOLOGIES, INC.

Date: March 25, 2002

/S/Kenneth J. Eaken, President,
   Chief Executive Officer and Principal Accounting Officer